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Marco Island Condos, Marco Island Real Estate, Marco Island Homes for Sale, Marco Island Luxury Homes

Waterfront Luxury Home Specialist

239.821.7926
Cathy.Rogers@Sothebysrealty.com

Florida First & Florida Advantage Help Qualify You For Down Payment Assistance Programs

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If you’re in the process of buying a home and need down payment assistance, you should know that the State of Florida might have a program that can help you finally become a homeowner! Thanks to Florida Housing, there are a handful of programs to help homebuyers. Two of the most utilized and appreciated programs that people in Florida use are the Florida First program and the Florida Advantage program. Both of these can help buyers automatically qualify for down payment assistance programs.

Florida First

The Florida First program offered by Florida Housing is a means to get a low 30-year fixed-rate on your first mortgage, if you’re a qualified borrower. It isn’t a down payment assistance program, but it does automatically qualify you for one of the state’s down payment assistance programs. So, Florida First is a wonderful place to start, if you need down payment assistance. Plus, it may qualify you for an outstanding affordable mortgage.

Florida Advantage

The Florida Advantage program offered by Florida Housing  can help you if you intend to buy a home in an area designated as rural. Keep in mind, the definition of rural is quite broad. So, it is worth looking into, even if you don’t think the home you’re interested in qualifies as rural. This program helps self-help buyers or buyers with at least one disabled family member. To qualify, you also need to be at or below 80% of AMI adjusted for household size. If you do, you also would qualify for the Florida Assist down payment assistance.

Are You Buying a Home on Marco Island?

Considering buying a home on Marco Island? We’d love to help you find one that’s just right for your needs.

First, check out available Marco Island area properties using this helpful search tool. If it’s easier, you can just call us at 239-821-7926 or get in touch with us online to let us know what you’re looking for. We’re happy to contact you however you prefer. Then, we’ll start searching our databases right away using criteria you specify!

In the meantime, you can also easily explore Marco Island real estate by price:

Also, to stay current on the latest listing and community events, connect with your Marco Island area expert on Facebook or Twitter!

 

 

List Your Marco Island Home Today!

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Marco Island inventory of homes, lots and condos for sale was totaled at 838 as of a recent report. That’s down 16 percent from the same time last year. Marco Island home listings were down seven percent. Marco Island condo listings were fewer by 14 percent.

Meanwhile, list prices for homes on Marco Island ranged from $369,000 to $6.5 million. List prices on Marco Island condos ranged between $115,000 to $9.9 million!

It’s the perfect time to list your home with us. Interest rates are expected to rise, so potential buyers would be wise to get locked into a rate before they go up further. We would love to add to the inventory of available homes on the island. So, if you’ve been thinking of selling, get in touch right away!

5000 ROYAL MARCO WAY 330 $1,375,000

5000 ROYAL MARCO WAY 330 MARCO ISLAND, Florida

3 Beds 3 Baths 4,243 SqFt

Listing courtesy of PREMIER SOTHEBY`S INTERNATIONAL REALTY

4000 ROYAL MARCO WAY 424 $1,299,900

4000 ROYAL MARCO WAY 424 MARCO ISLAND, Florida

3 Beds 3.1 Baths 4,318 SqFt

Listing courtesy of PREMIER SOTHEBY`S INTERNATIONAL REALTY

100 N COLLIER BOULEVARD PH-3 $915,000

100 COLLIER BOULEVARD N PH-3 MARCO ISLAND, Florida

2 Beds 2 Baths 1,601 SqFt

Listing courtesy of PREMIER SOTHEBY`S INTERNATIONAL REALTY

900 S COLLIER BOULEVARD 210 $864,900

900 COLLIER BOULEVARD S 210 MARCO ISLAND, Florida

2 Beds 2 Baths 1,504 SqFt

Listing courtesy of PREMIER SOTHEBY`S INTERNATIONAL REALTY

824 E HIDEAWAY CIRCLE 341 $859,000

824 HIDEAWAY CIRCLE E 341 MARCO ISLAND, Florida

3 Beds 2.1 Baths 3,100 SqFt

Listing courtesy of PREMIER SOTHEBY`S INTERNATIONAL REALTY

220 S COLLIER BOULEVARD 703 $829,900

220 COLLIER BOULEVARD S 703 MARCO ISLAND, Florida

2 Beds 2.1 Baths 1,952 SqFt

Listing courtesy of PREMIER SOTHEBY`S INTERNATIONAL REALTY

1231 LAUREL COURT $2,549,000

1231 LAUREL COURT MARCO ISLAND, Florida

3 Beds 3.2 Baths 6,621 SqFt 0.400 Acres

Listing courtesy of PREMIER SOTHEBY`S INTERNATIONAL REALTY

1659 RAINBOW COURT $825,000

1659 RAINBOW COURT MARCO ISLAND, Florida

3 Beds 2 Baths 2,820 SqFt 0.230 Acres

Listing courtesy of PREMIER SOTHEBY`S INTERNATIONAL REALTY

1036 GOLDENROD AVENUE $799,000

1036 GOLDENROD AVENUE MARCO ISLAND, Florida

3 Beds 2.1 Baths 3,277 SqFt 0.200 Acres

Listing courtesy of PREMIER SOTHEBY`S INTERNATIONAL REALTY

372 ROOKERY COURT $749,900

372 ROOKERY COURT MARCO ISLAND, Florida

3 Beds 2 Baths 2,171 SqFt 0.250 Acres

Listing courtesy of PREMIER SOTHEBY`S INTERNATIONAL REALTY

1929 INDIAN HILL STREET 0 $1,800,000

1929 INDIAN HILL STREET MARCO ISLAND, Florida

0.480 Acres

Listing courtesy of PREMIER SOTHEBY`S INTERNATIONAL REALTY

641 BLACKMORE COURT 12 $999,000

641 BLACKMORE COURT 12 MARCO ISLAND, Florida

0.310 Acres

Listing courtesy of PREMIER SOTHEBY`S INTERNATIONAL REALTY

849 CAXAMBAS DRIVE 13 $865,000

849 CAXAMBAS DRIVE 13 MARCO ISLAND, Florida

0.990 Acres

Listing courtesy of PREMIER SOTHEBY`S INTERNATIONAL REALTY

341 HENDERSON COURT 12 $715,000

341 HENDERSON COURT 12 MARCO ISLAND, Florida

0.200 Acres

Listing courtesy of PREMIER SOTHEBY`S INTERNATIONAL REALTY

Are You Buying a Home on Marco Island?

Considering buying a home on Marco Island? We’d love to help you find one that’s just right for your needs.

First, check out available Marco Island area properties using this helpful search tool. If it’s easier, you can just call us at 239-821-7926 or get in touch with us online to let us know what you’re looking for. We’re happy to contact you however you prefer. Then, we’ll start searching our databases right away using criteria you specify!

In the meantime, you can also easily explore Marco Island real estate by price:

Also, to stay current on the latest listing and community events, connect with your Marco Island area expert on Facebook or Twitter!

Time To Buy Before Interest Rates Go Up Again

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Freddie Mac announced recently that rates on a 30-year fixed mortgage rose to 4.72 percent. Plus, rates are going to continue to rise. They’ve already risen over 3/4 of a percent higher than they were at the start of 2018.

You might be hoping that prices on homes will drop and planning to make your purchase at that point. This won’t likely actually save you any money though. See, even if the sticker price comes down, that doesn’t mean you’ll pay less. If you are like almost everyone else, you’re not  going to pay cash for your new Marco Island home. You’re going to finance it.

With a lower interest rate, you will pay less monthly and over all than a lower priced home with a higher interest rate. In fact, for every 0.25 percent interest rates rise, the amount of a home you can afford declines by 2.5 percent.

If you’re thinking of purchasing a Marco Island home, please call us soon. Interest rates will continue to rise, and are expected to be well over 5.0 percent by this time next year.

5000 ROYAL MARCO WAY 330 $1,375,000

5000 ROYAL MARCO WAY 330 MARCO ISLAND, Florida

3 Beds 3 Baths 4,243 SqFt

Listing courtesy of PREMIER SOTHEBY`S INTERNATIONAL REALTY

4000 ROYAL MARCO WAY 424 $1,299,900

4000 ROYAL MARCO WAY 424 MARCO ISLAND, Florida

3 Beds 3.1 Baths 4,318 SqFt

Listing courtesy of PREMIER SOTHEBY`S INTERNATIONAL REALTY

100 N COLLIER BOULEVARD PH-3 $915,000

100 COLLIER BOULEVARD N PH-3 MARCO ISLAND, Florida

2 Beds 2 Baths 1,601 SqFt

Listing courtesy of PREMIER SOTHEBY`S INTERNATIONAL REALTY

900 S COLLIER BOULEVARD 210 $864,900

900 COLLIER BOULEVARD S 210 MARCO ISLAND, Florida

2 Beds 2 Baths 1,504 SqFt

Listing courtesy of PREMIER SOTHEBY`S INTERNATIONAL REALTY

824 E HIDEAWAY CIRCLE 341 $859,000

824 HIDEAWAY CIRCLE E 341 MARCO ISLAND, Florida

3 Beds 2.1 Baths 3,100 SqFt

Listing courtesy of PREMIER SOTHEBY`S INTERNATIONAL REALTY

220 S COLLIER BOULEVARD 703 $829,900

220 COLLIER BOULEVARD S 703 MARCO ISLAND, Florida

2 Beds 2.1 Baths 1,952 SqFt

Listing courtesy of PREMIER SOTHEBY`S INTERNATIONAL REALTY

1231 LAUREL COURT $2,549,000

1231 LAUREL COURT MARCO ISLAND, Florida

3 Beds 3.2 Baths 6,621 SqFt 0.400 Acres

Listing courtesy of PREMIER SOTHEBY`S INTERNATIONAL REALTY

1659 RAINBOW COURT $825,000

1659 RAINBOW COURT MARCO ISLAND, Florida

3 Beds 2 Baths 2,820 SqFt 0.230 Acres

Listing courtesy of PREMIER SOTHEBY`S INTERNATIONAL REALTY

1036 GOLDENROD AVENUE $799,000

1036 GOLDENROD AVENUE MARCO ISLAND, Florida

3 Beds 2.1 Baths 3,277 SqFt 0.200 Acres

Listing courtesy of PREMIER SOTHEBY`S INTERNATIONAL REALTY

372 ROOKERY COURT $749,900

372 ROOKERY COURT MARCO ISLAND, Florida

3 Beds 2 Baths 2,171 SqFt 0.250 Acres

Listing courtesy of PREMIER SOTHEBY`S INTERNATIONAL REALTY

1929 INDIAN HILL STREET 0 $1,800,000

1929 INDIAN HILL STREET MARCO ISLAND, Florida

0.480 Acres

Listing courtesy of PREMIER SOTHEBY`S INTERNATIONAL REALTY

641 BLACKMORE COURT 12 $999,000

641 BLACKMORE COURT 12 MARCO ISLAND, Florida

0.310 Acres

Listing courtesy of PREMIER SOTHEBY`S INTERNATIONAL REALTY

849 CAXAMBAS DRIVE 13 $865,000

849 CAXAMBAS DRIVE 13 MARCO ISLAND, Florida

0.990 Acres

Listing courtesy of PREMIER SOTHEBY`S INTERNATIONAL REALTY

341 HENDERSON COURT 12 $715,000

341 HENDERSON COURT 12 MARCO ISLAND, Florida

0.200 Acres

Listing courtesy of PREMIER SOTHEBY`S INTERNATIONAL REALTY

Are You Buying a Home on Marco Island?

Considering buying a home on Marco Island? We’d love to help you find one that’s just right for your needs.

First, check out available Marco Island area properties using this helpful search tool. If it’s easier, you can just call us at 239-821-7926 or get in touch with us online to let us know what you’re looking for. We’re happy to contact you however you prefer. Then, we’ll start searching our databases right away using criteria you specify!

In the meantime, you can also easily explore Marco Island real estate by price:

Also, to stay current on the latest listing and community events, connect with your Marco Island area expert on Facebook or Twitter!

 

Florida Down Payment Assistance Programs For Home Buyers

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Florida Assist

Do you know the options for Florida down payment assistance programs that can help Florida home buyers? There are plenty of programs available to help you get into a new home thanks to Florida Housing. Florida Housing’s FTHB Program program can be accessed only through participating lenders in  Florida. From the Florida Housing website, select First Time Homebuyer Wizard. When you’re done here, check out the options and specifics for Florida first time home buyer incentives.

 

Florida Down Payment Assistance Programs

Florida Assist

Florida Assist offers lower income borrowers up to $7,500 towards down payment assistance and closing cost fees. This works as a deferred second mortgage with to cover these costs and pay nothing, not even interest until you sell or refinance the home or at the end of the first mortgage.

Homeownership Assistance for Moderate Income Loan (HAMI)

HAMI offers borrowers up to $5,000 in down payment and closing costs help. This is also a second mortgage. This one is a low, fixed-rate second mortgage repayable over ten years.

 

Are You Buying a Home on Marco Island?

Considering buying a home on Marco Island? We’d love to help you find one that’s just right for your needs.

First, check out available Marco Island area properties using this helpful search tool. If it’s easier, you can just call us at 239-821-7926 or get in touch with us online to let us know what you’re looking for. We’re happy to contact you however you prefer. Then, we’ll start searching our databases right away using criteria you specify!

In the meantime, you can also easily explore Marco Island real estate by price:

Also, to stay current on the latest listing and community events, connect with your Marco Island area expert on Facebook or Twitter!

What Will The FICO Score 9 Do To Your Credit Score?

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Some lenders are already looking at applicants FICO Score 9 credit scores. There are some major differences between this new system for determining a credit score and the FICO 8. So, how will this affect you if you go to buy a home and the lender uses FICO Score 9? Well, to start, most lenders haven’t made the switch yet, but in time, they will. Scientists at FICO believe the new system is a more accurate way for lenders to determine the level of risk involved with lending to someone. For many potential home buyers, this new system will actually improve their credit scores. Here are some big changes:

If you had an account in collections, but paid it off already, the FICO Score 9 will make it so that it doesn’t bring down your score. It removes the effects that would have otherwise had on your score.

If you have medical bills, it lowers the effect of those on your score. With the new FICO Score 9, medical bills will be weighted less heavily than a credit card, thankfully!

Also, a huge perk for people who pay their rent on time: If your landlord reports your rent, payments made on time will bring up your score! This is great news considering that most people will pay their rent every month, so its a better indicator of your actual likelihood to pay your mortgage or other loans!

Are You Buying a Home on Marco Island?

Considering buying a home on Marco Island? We’d love to help you find one that’s just right for your needs.

First, check out available Marco Island area properties using this helpful search tool. If it’s easier, you can just call us at 239-821-7926 or get in touch with us online to let us know what you’re looking for. We’re happy to contact you however you prefer. Then, we’ll start searching our databases right away using criteria you specify!

In the meantime, you can also easily explore Marco Island real estate by price:

Also, to stay current on the latest listing and community events, connect with your Marco Island area expert on Facebook or Twitter!

 

If I Use An FHA Loan, Can I Rent My Home Out As An Investment Property?

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Be careful renting out a home if you finance through a loan backed by the Federal Housing Administration. An FHA loan is meant to help people find homes to live in. It’s not supposed to help people purchase income properties. The agency prohibits homeowners from taking advantage of their program in order to build an investment portfolio.

Of course, that doesn’t mean it’s never allowed. The agency specifically outlines rules. For example, if you have to relocate to a new place outside of a reasonable commute to work, FHA may allow you to rent out a home financed through a loan backed by the agency. Additionally, if you have more children than your current house has room for, FHA makes an exception. Regardless though, you’d need to live in the home for most of the first year before considering renting it.

If you choose to rent out the home and they allow it, they might require you to wait to move out until the loan-to-value ratio is 75 percent. They might require a new appraisal too. Alternately, the agency might allow you to pay the loan down to that LTV in advance in order to move forward with rental plans if your family size grows.

Simply put though, the agency is aware than people may try to buy a home using an FHA loan with the intent to use it as a rental property and have provisions in place to make sure that doesn’t happen.

Are You Buying a Home on Marco Island?

Considering buying a home on Marco Island? We’d love to help you find one that’s just right for your needs.

Call us at 239-821-7926 or get in touch with us online to let us know what you’re looking for. We’ll start searching right away. In the meantime, please explore our:

 

What is a VA Loan?

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What is a VA Loan - Marco Island Real Estate

If you’ve received an honorable discharge from any branch of the U.S. Armed Forces, or if you’re currently serving in the military, you’re eligible to use a VA loan. In many cases, a VA loan helps the borrower get more favorable terms than he or she would get with a conventional loan — but what are the benefits, and could it be a good idea for you to use one?

What Is a VA Loan?

A VA loan is a traditional loan backed by the Department of Veterans Affairs.

Because the VA backs these loans, lenders are often more willing to extend credit on favorable terms.

Benefits of VA Loans

Some of the benefits of VA loans include:

  • Borrowers don’t need a down payment (as long as the home’s sale price doesn’t exceed its appraised value)
  • Borrowers don’t need to purchase private mortgage insurance, or PMI
  • In some cases, the seller can pay closing costs
  • There is no prepayment penalty if a borrower chooses to pay off the loan early
  • Borrowers who have a difficult time making payments may qualify for help from the Veterans Administration

You don’t have to be a first-time homebuyer to use your VA loan, and you can reuse the benefit as many times as you like (the only catch is that you must pay off one VA loan before you open another).

Who’s Eligible for VA Loans?

If you have an honorable discharge from any branch of the military, or if you’re currently serving — even in the reserve components — you could be eligible for a VA loan. Some surviving spouses are also eligible.

Are You Looking for a House on Marco Island?

If you’re buying a home on Marco Island, whether you’re searching in Tigertail Beach, Cape Marco or elsewhere, we can help.

Call us at 239.821.7926 or get in touch with us online. We’ll begin searching for homes that meet your needs right away.

Contact Cathy


239.821.7926
Cathy.Rogers@Sothebysrealty.com